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  • Writer's pictureBy The Financial District

Bahrain Takes Full Control Of UK Sportscar Maker McLaren

Bahrain's sovereign wealth fund has acquired full ownership of the McLaren Group, which manufactures high-end sportscars and holds a majority stake in the McLaren F1 team, according to Theo Leggett's report for BBC News.

McLaren has hailed this move as a "major milestone."I Photo: McLaren

Mumtalakat, Bahrain's fund, was already McLaren's largest shareholder. This acquisition comes after a period of significant financial uncertainty for the British company, which has been experiencing substantial losses.

McLaren has hailed this move as a "major milestone."

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

The company is now reportedly exploring technical partnerships with other businesses to aid in the development of electric vehicle technology. McLaren Group's executive chairman, Paul Walsh, expressed delight at Mumtalakat's ongoing commitment to McLaren through this deal.

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